Ongoing trade tensions between Europe and China over Chinese-made electric vehicles (EVs) are raising concerns about the potential damage this could to valuable China-EU trade ties in other sectors.
The European Commission, the bloc's executive arm, decided in early July that provisional tariffs of up to 37.6 percent would be slapped on Chinese-made EVs.
On August 20, the commission published a draft plan to make those tariffs definitive, at slightly revised rates, subject to approval by European Union member states.
According to the disclosed information, the anti-subsidy tax rates for the three sampled Chinese EV companies, BYD, Geely, and SAIC, are 17.0 percent, 19.3 percent, and 36.3 percent, respectively.
Some European countries like Germany and Spain have criticized the measures, fearing a possible trade war with China.
Some residents in Paris, capital city of France, also shared their views on the EV dispute with a China Global Television Network (CGTN) reporter.
"I'm not too interested in electric cars. I hear from people who say that when they drive electric cars, they lose a lot of range very quickly. Also, it's not easy to recharge cars on freeways either," said a resident.
"If China is ever taxed on electric vehicles in the European market, they could do the same thing and take market share away from us on some of the European and especially French products. France has a strong international presence in the spirits and luxury goods sector. So there's a risk," said another man.
There have been warnings from some French exporters that the tariffs against China in auto sector could end up having a negative impact on another industry - cognac.
China launched its own investigation earlier this year into European wine-based liquors.
French brands constitute 99 percent of China's cognac imports raising concerns among some French cognac producers.
"First of all, I believe that they will try to sell more in the European market, and in France particularly. I believe that a lot of big houses of cognac will still stand in the market, however, the small houses will just die because they will not be able to sell their product any more,” said Clara Punch, manager of a cognac company in France.
European residents express concerns on EU's tariff policy against China
European residents express concerns on EU's tariff policy against China
European residents express concerns on EU's tariff policy against China
European residents express concerns on EU's tariff policy against China
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
